(Business in Cameroon) - The first Bamboo-1 wells, on the Ntem offshore deal, met all foreseen objectives, but the data collected did not confirm the presence of commercial hydrocarbon fuel. This was reported on April 8, 2014 by Sterling Energy Plc, which has a 50% share of the concession contract through its Cameroonian subsidiary. 

“We have identified, on the Ntem block, other prospects from the Cretaceous and Tertiary periods that will be evaluated using promising data from Bamboo-1 before making any new decisions about the block,” reassured Alastair Beardsall, CEO of Sterling.

Bamboo-1, which reached a total depth of 4,747 m, was aiming for 450 million barrels of oil equivalent. At present, Sterling is going to abandon this plan, and commence detailed analysis to update the fuel potential assessment of the remainder of the concession contract’s 2,319 km2 in which Murphy Cameroon Ntem Oil Co. Ltd has a 50% stake.

Listed on AIM and planning to head to Madagascar and Somaliland, Sterling Energy has assured that drilling on the Ntem block will continue until April 2015 and will be renewed for two years.